Home Highlights June 2013 Year 2013 This

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1. Penalty u/s 271(1)(c) - claim of agricultural income in the hands of company - how the assessee can claim as cultivator as its name is not appearing in the revenue land...

2. Taxability of LTCG - assessment in the hand of assessee or his wife - double taxation - The issue has to be dealt only by the tax authorities and the credit in the hands...

3. Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

4. Additions u/s 164 r.w.s 160 - Share of the beneficiaries as taxable in the hands of the assessee trust - The Co-ordinate Bench held that revenue cannot pick and choose...

5. Validity of Addition on protective basis - Although, there is no provision in the Income Tax Act authorizing the levy of income tax on a person other than whom income...

6. Levy of tax on advertisement - Constitutional Validity of Section 103(b)(vi), 134 containing the words "after levy of tax under Section 134 has been determined by the...

7. Difference between Fee and Tax - water and sewerage taxes levied and collected - legislative competence of State Legislature to levy the tax under the provisions of...

8. Entry Tax - “Fork Lift” to be considered as "Motor Vehicle" or not - Section 3 clearly states if vehicle is not liable for registration, then the respondent is not...

9. Demand of service tax - there must be a ‘levy of Tax’ for anyone to claim the benefit of exemption from such ‘levy of Tax’. The Department could have come up with...

10. Addition u/s. 69 based on information received from Australian Tax authorities - There is absolutely no other material in the hand of the A.O. of proving the addition in...

11. Unexplained cash deposits - assessee is having joint account - AO simply brushed aside the explanation and taxed the deposits in the hands of the assessee. When the...

12. Addition on account of cash deposit during demonetization period - the assessee glumly failed to justify the genuineness of the cash on hand viz a viz its use for...

13. Income accrued in India - interest income and commitment fees earned by DZ Bank from its Indian clients - PE in India - Once entire interest revenues earned in India in...

14. In a situation when the unaccounted stock had been taxed u/s 69B, on one hand, and on the other hand the sale value of the stock was also taxed – the correct position...

15. TDS credit treated as income of the assessee - Nature of income - essentially the TDS credit now claimed by the assessee is in the nature of an additional income over...